---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-046207"
form_type: "8-K"
ticker: "XWEL"
cik: "0001410428"
company_name: "XWELL, Inc."
filed_at: "2023-04-17T23:59:59+00:00"
generated_at: "2026-06-17T01:18:34.996467+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# XWELL reports FY2022 net loss of $32.8M vs net income of $3.3M prior year; revenue down 24% to $55.9M

## Summary
- Total revenue $55.9M in FY2022, down from $73.7M in FY2021; net loss attributable to common shareholders $32.8M vs net income $3.3M.
- Loss from operations $31.2M vs income $4.1M; cost of sales up to $43.9M from $41.4M; G&A expenses $31.2M vs $24.2M.
- Repurchased ~19.5M shares for $23.8M; 0.8M shares remain under existing buyback program.
- Opened 5 XpresSpa at Istanbul Airport; plans Abu Dhabi opening in Q3 2023 and new spa at Philadelphia Airport in 2023.
- Expanded CDC biosurveillance partnership with Ginkgo Bioworks to include influenza monitoring; closed underperforming XpresCheck and Treat locations.

## SEC filing metadata
- accession: 0001104659-23-046207
- form_type: 8-K
- ticker: XWEL
- cik: 0001410428
- company_name: XWELL, Inc.
- filed_at: 2023-04-17T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1410428/000110465923046207/0001104659-23-046207-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1410428/000110465923046207/tm2313030d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-046207
- JSON: https://secwatch.observer/filing/0001104659-23-046207.json
- Plain text: https://secwatch.observer/filing/0001104659-23-046207.txt

## Key facts
- Earnings Releases
  XWELL, Inc. reported financial results for the year ended December 31, 2022.
  - Period: the year ended December 31, 2022
  - Result: reported results
  source text: today reported results for the year ended December 31, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1410428/000110465923046207/0001104659-23-046207-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.